Why does my property value increase if I haven't done anything to it?

Many economic factors such as interest rates, inflation rates, housing supply and demand, and tax law changes can affect the housing market and fair market value. Activity within the housing market will drive property value. If homes similar to yours sell for higher prices, your home would bring a higher price if you offered it for sale on the open market. As property values change in the marketplace, those changes must be reflected in the locality's assessment books.

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1. If I don't agree with the assessor's assessed value of my property what can I do?
2. Why does my property value increase if I haven't done anything to it?
3. Will my assessment go up if I keep my property well maintained?
4. Will my assessment increase if I make improvements to my property?